Stallion Property and Development Company Limited (SPDC) is a private limited liability company owned by NNPC Pension Fund Ltd
It was initially incorporated on November 30, 1989 as a fully owned subsidiary of Unipetrol (Nig) Plc. It subsequently became operational in January 1992 as a property company set to engage in Property Development, Facility Management and Proprietary Trading in Real Estate assets. Over the years, Nigerian National Petroleum Corporation (NNPC) acquired 51% of the company under a joint ownership arrangement designed to enhance the company’s capacity and market presence. However, in compliance with the Federal Government Privatisation and commercialisation Policy of early 2000, NNPC divested its 51% holdings in the company which was transferred to NNPC Pension Fund Limited by the Bureau of Public Enterprises in December 2014, in order to bridge established actuarial pension gap.
SPDC has an authorized share capital of N500,000,000.00 divided into 500,000,000 ordinary shares of N1 each with a paid up capital of N317,282,000.00.